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20-Feb-2019 10:02 AM

CTM sees exciting opportunities in all operating regions, particularly North America and Asia

Corporate Travel Management (CTM) reported (19-Feb-2019) the following regional operational highlights for H1FY2019 (six months to 31-Dec-2018):

  • Australia and New Zealand: Region continued to outperform, reporting an 18% increase in underlying EBITDA to AUD22.3 million (USD16.0 million). This result was secured with record win and retention rates, while approximately 80% of customer transactions are now completed online;
  • Europe: Region delivered an underlying EBITDA of AUD16.8 million (USD12.0 million) up 30% on the prior corresponding period. The region continues to outperform the market despite patchy activity related to Brexit;
  • North America: Region provided steady revenue and profit contributions, with underlying EBITA at AUD17.9 million (USD12.8 million). Revenue was up 18% and CTM is expecting a strong H2FY2019 with its technology suite ready for ongoing roll-out. The strong revenue growth off-set by an additional USD2.0 million in technology hub development costs expenses. On a like for like basis, EBITDA would be up 15%;
  • Asia: Region is performing well across all segments, delivering underlying EBITDA of AUD12.5 million (USD9.0 million), up 34%. Technology is securing further customer wins and growing the sales pipeline, while the Lotus integration is achieving early revenue and cost synergies, which are expected to play out in H2FY2019.

CTM Managing Director and founder Jamie Pherous said the company is winning significant global customers because of its SMART Technology suite, which "provides us with a distinct competitive edge and there are a number of exciting opportunities in all of our operating regions, particularly North America and Asia". [more - original PR]

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